Rob discusses the Labour Party's proposed housing reforms, which include a ban on landlords raising rent more than once a year and restrictions on rental bidding wars. He critiques these measures, arguing that they reflect a misunderstanding of market forces and historical lessons regarding price controls. The episode also highlights concerns about the treatment of private landlords compared to social housing landlords, questioning the fairness of the proposed regulations.

KEY TAKEAWAYS

• Labour is looking to implement reforms that would limit landlords to raising rent only once a year and tie any increases to a market rate, which raises concerns about the effectiveness of such price controls.
• The proposed ban on rental bidding wars and restrictions on landlords accepting housing benefit claimants could suppress the free market, potentially leading to negative consequences for both landlords and renters.
• There is a perceived disparity in how private landlords and social housing landlords are treated under the proposed regulations, with concerns that social housing issues are being overlooked while private landlords face stricter scrutiny.
• Abolishing no-fault evictions could create significant delays in the eviction process, leaving landlords vulnerable to financial losses if tenants stop paying rent, as the current court system already has long wait times.
• There is a strong argument for equal treatment of all landlords, regardless of whether they are private or social, emphasising that both good and bad landlords should be held to the same standards to ensure fairness in the housing market.

BEST MOMENTS

"Labour are looking to ban landlords from raising rent more than once a year. This is a part of a set of housing reforms that Labour are looking to push through."

"If price controls don't work then rental controls are not going to work either. Yet it seems though that the people in charge do not like to look at history."

"You're trying to suppress the market. It does not work. What we've got to do is go through years and years of history to show it will not work."

"Finding is it seems to be it's one rule for private landlord and one rule for social housing landlord, and that is unacceptable as far as I'm concerned."

"Bad landlords should be punished. Absolutely. But bad landlords, whether they're private or social, should be treated the same."

VALUABLE RESOURCES

https://www.msn.com/en-gb/money/other/labour-to-ban-landlords-from-raising-rents-more-than-once-a-year/ar-AA1qmE42?ocid=winp2fptaskbarhover&cvid=661c30f07e314bcc9fa6f0266e08c17a&ei=12

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Rob revisits the impact of council tax hikes on second homes in Wales, particularly focusing on Pembrokeshire. He looks at the significant increase in second homes on the market, which has risen from 38 in July 2023 to 135 in July 2024, largely attributed to a drastic 300% council tax increase for second homeowners. The conversation highlights the ongoing tensions between local residents, tourists, and second home owners, emphasising the complexities of finding a one-size-fits-all solution.

KEY TAKEAWAYS

• In Pembrokeshire, council tax for second homes has increased dramatically, with some homeowners facing a 300% rise. This has led to a significant increase in the number of second homes on the market, indicating that many owners are selling due to the financial burden.
• Local people often complain about high property prices and a lack of available homes, while businesses rely on tourism for revenue, creating a challenging dynamic.
• The policies aimed at making housing more affordable, such as increased council tax for second homes, may have unintended negative consequences. Instead of helping local residents, these measures could harm local businesses and the economy by driving away tourism.
• With only 20 to 30 houses built in the Newport area over the last 30 years, there is a clear need for more construction to meet demand and stabilise prices.

BEST MOMENTS

"Pembrokeshire has done is they've been a bit too draconian here and they have trebled their council tax bill."

"If you want prices to come down, you probably have to flood the market with properties. That really means building a lot more."

"If the local people aren't able to afford these homes, then you're going to have a lot of property that's going to be sat empty."

"Raising council tax rates isn't going to do the job because the very people you're trying to protect and help... they're going to get screwed over more than likely."

VALUABLE RESOURCES

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Buy To Let: How To Get Started = https://amzn.to/3genjle

101 Top Property Tips = https://amzn.to/2NxuAQL

uk property, Investment, Property, Rent, Buy to let, Investing for beginners, Money, Tax, Renting, Landlords, strategies, invest, housing, properties, portfolio, estate agents, lettings, letting, business: https://patreon.com/tpnpodcast

Rob looks into the contentious topic of new build properties, sparked by a troubling article about a housing estate in Cambridge developed by Bellway. He discusses the various issues faced by homeowners, including significant construction flaws and poor customer service, which raise questions about the overall quality and value of new builds.

KEY TAKEAWAYS

• New build properties often come with significant issues, such as poor workmanship and unresolved snags, which can lead to a negative experience for homeowners and investors alike.
• For investors, new builds are generally not worth the investment unless purchased at a substantial discount below market value. The potential for profit diminishes when buying at standard prices.
• There is a growing concern that the quality of construction in new builds is declining, with reports of serious issues like leaking bathrooms, improperly installed fixtures, and unsafe structures.
• Many homeowners have reported difficulties in getting timely responses and resolutions from builders like Bellway, leading to frustration and a sense of neglect regarding their concerns.

BEST MOMENTS

"As an investor, buying new built, when it's built, unless it's ridiculously below market value, I would urge not to do it."

"You don't expect three major leaks in your bathroom, a downstairs radiator to be plumbed into the upstairs and vice versa."

"It seems that a lot of house builders... are taking less and less responsibility, and that's unacceptable."

"These levels of issues are becoming more prevalent. They are becoming almost like the norm, and that is unacceptable."

VALUABLE RESOURCES

https://www.bbc.co.uk/news/articles/c3ej5v1ney1o

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https://propertyfundingplatform.com/WharfFinancial#!/borrowerinitialregistration

SOCIAL MEDIA/CONTACT US

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BOOKS

Property FAQs = https://amzn.to/3MWfcL4

Buy To Let: How To Get Started = https://amzn.to/3genjle

101 Top Property Tips = https://amzn.to/2NxuAQL

uk property, Investment, Property, Rent, Buy to let, Investing for beginners, Money, Tax, Renting, Landlords, strategies, invest, housing, properties, portfolio, estate agents, lettings, letting, business: https://patreon.com/tpnpodcast